May 1, 2014
/PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("the Company" or "BGC"), a leading global brokerage company servicing the wholesale financial and real estate markets, today announced that it intends to expand its Latin American presence with an agreement to acquire Remate Lince, S.A.P.I. de C.V. ("Remate"), one of
leading inter-dealer brokers, known for its strong interest rate derivatives and bond brokerage businesses. This marks BGC's first acquisition agreement in
since the acquisition of
Liquidez DTVM Ltda. in 2009 and highlights the company's ambitions to expand its position in this important strategic region, drive liquidity and market connectivity to its customer base in
, and export peso-denominated products to our global platform. Financial details of the intended transaction which has not yet closed were not disclosed.
"BGC is one of the fastest growing inter-dealer brokers in the industry. We continue to expand our international footprint and suite of products, delivering exceptional value to our clients. Remate has earned a premier reputation in the Latin American marketplace and we are excited to sign an agreement with them and welcome them to the BGC family shortly," said
Shaun D. Lynn
, President of BGC.
Mr. Lynn continued: "
has terrific growth potential, as we have seen with Liquidez in
and our Euro Brokers business in
. We look forward to leveraging BGC's existing presence and expertise to unlock even greater value and to offer our global customers new products in the Mexican market and offer Mexican customers new access to global distribution opportunities, greater liquidity, and all the benefits of our technology platform."
, Chairman of Remate, said: "As a co-founder of this business I am proud of everything Remate has achieved in the past eighteen years. This marks an exciting new chapter for our business and our employees. It is a great honor to announce this agreement with BGC, a strong global brand with a magnificent industry reputation and proven history of acquiring businesses and promoting synergies and opportunities for growth. We look forward to working with BGC and building a formidable presence in
About Remate Lince, S.A.P.I. de C.V.
Established in 1997, Remate is one of
top inter-dealer brokers. Located in
, Remate has a strong focus on financial instruments available in, or linked to, Mexican Pesos. Its Pesos bonds division brokers Government, Agencies and Corporate fixed, floating and inflation-related bonds, including Repos. Its Derivatives division brokers Interest Rate Swaps, Forward Foreign Exchange and other Peso-related derivatives. In addition, Remate offers customers a Spot Foreign Exchange voice brokerage service.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions. Through its BGC Trader and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to select financial instruments and markets. Through the NGKF brand, the Company offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. For more information, please visit
BGC, BGC Trader, Grubb & Ellis, Grubb and Newmark are trademarks and service marks of BGC Partners, Inc. and its affiliates. Knight Frank is a service mark of Knight Frank Limited Corp., used with permission.